My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Before I get into all that, lets have a look at this mornings precious metals pricing.
Gold - $1344.28 Up $10.62
Silver - $22.778 Up $0.21
Platinum - $1456.00 Up $19.00
Palladium - $754.00 UP $3.50
Faber: Fed could up QE to $1 trillion a month
Marc Faber, publisher of The Gloom, Boom & Doom Report, told CNBC on Monday that investors are asking the wrong question about when the Federal Reserve will taper its massive bond-buying program. They should be asking when the central bank will be increasing it, he argued.
"The question is not tapering. The question is at what point will they increase the asset purchases to say $150 [billion] , $200 [billion], a trillion dollars a month," Faber said in a " Squawk Box " interview.
The Fed-which is currently buying $85 billion worth of bonds every month-will hold its October meeting next week to deliberate the future of its asset purchases known as quantitative easing . Read More...
De-crowning the dollar, and the 'collapse' ahead
The gradual erosion of the U.S. dollar's status as the world's reserve currency has been greatly hastened of late. This is due not only to the perpetual gridlock in D.C., but also our government's inability to articulate a strategy to deal with the $126 trillion of unfunded liabilities.
Our addictions to debt and cheap money have finally caused our major international creditors to call for an end to dollar hegemony and to push for a "de-Americanized" world.
China, the largest U.S. creditor with $1.28 trillion in Treasury bonds, recently put out a commentary through the state-run Xinhua news agency stating that, "Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated." Read More...
Uh Oh: 47 Million Food Stamp Recipients Are Having Their Benefits Cut Back On November 1st
47.6 million Americans are about to have their food stamp benefits cut, and most of them have absolutely no idea that it is about to happen. Needless to say, a lot of them are going to be very angry when they discover that they cannot buy as much food for their families anymore. The reason that this is happening is because a temporary boost to food stamp benefits that was put in during the last recession is expiring. But most of the people that are having their benefits cut will not understand this. Most of them will just be very upset that the government is “taking money away” from them. And considering the “mini-riots” that we witnessed earlier this month when the system that processes food stamp payments went down for a few hours, it is obvious that a lot of food stamp recipients can very easily be pushed over the edge. So what would happen if we have another “debt ceiling crisis” in Washington D.C. early next year and food stamp benefits are temporarily cut off completely?
Wherever “austerity” has been tried in Europe, it has resulted in protests and riots. Could a similar thing happen in this country?
NBC News is reporting that ALL food stamp recipients are going to have their food stamp benefits reduced in November. This is certainly not going to put those living in poverty in a good mood… Read More...
Yuan going global: China, Singapore agree on direct currency trade
China and Singapore have agreed to trade their currencies directly, making the Southeast Asian city - state another offshore hub for Chinese yuan.
Singapore will become one of several locations where Chinese institutional investors will be able to buy foreign securities with yuan. The limit for currency trades by financial institutions in Singapore that invest in China’s domestic securities was stipulated at 50 billion yuan ($8.2 billion), according to the Renminbi Qualified Domestic Institutional Investor program.
Tuesday's move follows last week decision by the UK to ease rules for Chinese banks willing to set up in London, which was coupled with Beijing's decision to open up its markets to British-based investors. Read More....
Russia and China strengthen trade ties with $85 billion oil deal
The world’s fastest-growing energy market China and world’s biggest oil producer Russia have strengthened their business ties on Tuesday after signing 21 trade agreements, including a new 100 million ton oil supply deal with China’s Sinopec. http://rt.com/business/rosneft-china-sinopec-oil-537/
Dollar drops as Fed stimulus seen staying after jobs data
The dollar dropped across the board on Tuesday, hitting its lowest against the euro in nearly two years, as disappointing U.S. jobs data emboldened expectations the Federal Reserve will continue its easy money policy for the rest of the year. Read More...
Study: 15 percent of US youth out of school, work
Almost 6 million young people are neither in school nor working, according to a study released Monday. That's almost 15 percent of those aged 16 to 24 who have neither desk nor job, according to The Opportunity Nation coalition, which wrote the report. Read More...
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[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
